Pravin-
Are you the PravinK mentioned in this March 23, 2001 CBS MarketWatch article? They are having a lot of laughs over it on the Intel Thread.
Frank
virtual crossover clambake
AMD's price eclipses Intel's and the boards fire up
By Shawn Langlois, CBS.MarketWatch.com
Last Update: 2:34 PM ET Mar 23, 2001
SAN FRANCISCO (CBS.MW) -- Every once in a while, a stock market story comes along so
far-reaching in scope ... so impacting on the world, as we know it ... so groundbreaking that
the very fiber of Wall Street is stretched to its limit.
Well, this isn't one of those stories, but don't tell that to the giddy bunch of AMD longs
who've been eagerly anticipating what they've come to fondly know as "The Crossover" or
"The Eclipse."
Not the Allen Iverson Crossover or the lunar eclipse ... these resilient market bulls have
been waiting for that special day when their pet stock's price would finally overcome
Intel's, the Chipzilla of the semiconductor world.
On Friday, victory would be theirs.
After years of tested patience, the Advanced Micro Devices peanut gallery soaked in the
glow of their shiny moment.
In theCBS.MarketWatch.com AMD Discussion, CryoDesign captured the hotly-awaited
uptick: "Hurrah! While it's not official until we close this way, we did cross over at 12:49
EST with AMD at $28 and Intel at $27 15/16!"
Sure, some folks debated the exact instance the momentous occasion took place, but there
was no disputing that it was time to pop the cyber-bubbly. A thirsty JozefH stood at the
ready: "I hope you put that champagne in the freezer. We need it NOW!"
And PravinK: "What a beautiful thing to watch. We are at the dawn of a new era. No
looking back from here."
Even MarketWatch's own resident stock maven, PennyBelle, tried to keep it real but couldn't
help join the party: "To review: For most of last year, AMD trailed Goliath by 100 percent,
price-wise. Yes, it 'doesn't mean anything.' Yes, they have far more shares outstanding than
we do. Yes, they are the megalithic giant in the industry, and hold the lion's share of the
market. But:
"If anybody, and I mean anybody, told me we would rise 100 percent move WITHOUT Intel
(INTC: news, msgs, alerts) also making a significant move to the upside, I'd have said they
were crazy. Heck, traditionally, Goliath would have to be the one out in front, the one
causing the turn."
Over on Silicon Investor, the party was a bit more restrained but MilanS believed
Friday's news marked the changing of the guard: "The separation of AMD from Intel
is well on its way, and the two companies are judged on different merits. Even if
people have a hard time believing that AMD (AMD: news, msgs, alerts) is one of the
sources of Intel's troubles, they are starting to realize that AMD has its own distinct
economic context. AMD's stock will move in accordance with its earnings, and will
only weakly be linked to Intel.
Amid all the celebratory cyber-jigs and virtual back pats, a few party poopers, like JohnF,
managed to inject a dose of reality: "Intel market cap -- $187.68 billion. AMD market cap --
$8.72 billion ... only $178.96 billion to go before a cross over that means anything."
Come on, JohnF, Intel longs have had their fun for years; let the AMD'ers enjoy their small
victories.
Although, with the contagiously bullish tone spreading at Athlon speed ... the small
victories just might lead to some big ones ... and then bigger ones.
Stop by CBS.MarketWatch.com's AMD Group and do some celebrating of your own.
Shawn Langlois is community editor for CBS.MarketWatch.com. |
